Gold Analysis Today: Further Gains Remain Cautious (Chart)

(MENAFN- Daily Forex) Today's Gold Analysis Overview:

• The overall Gold Trend: Bullish.
• Today's Gold Support Levels: $3310 – $3255 – $3180 per ounce.
• Today's Gold Resistance Levels: $3355 – $3380 – $3420 per ounce.

Today's gold trading signals update:

• Sell gold from the resistance level of $3370, with a target of $3280 and a stop loss of $3400.
• Buy gold from the support level of $3270, with a target of $3400 and a stop loss of $3220.

Technical Analysis of Gold Price (XAU/USD) Today:

The gold price index has started positively, stabilizing upwards around the $3328 per ounce resistance, recovering from its low of around $3293 per ounce during the same trading session. Gold prices rose in conjunction with a decline in the US dollar as trade talks between the United States and China commenced. Alongside pressure on the US dollar, US Treasury yields also fell, with the two-year US Treasury bond yielding 4.001%, down 4.4 basis points, while the 10-year yield fell 3.6 basis points to 4.476%.US-China Trade Dispute Impacts Markets

As market trading began this week, delegations led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are meeting in London. Both countries are looking to solidify a 90-day temporary halt to tariffs exceeding 100% on each other's imports, an agreement reached last month. These talks come as China announced a slowdown in its economy under the weight of US tariffs. Reuters reported that China's export growth fell to a three-month low in May, while exports to the United States decreased by 34.5% during the month, the highest level since February 2020.

Top Forex Brokers1 Get Started 74% of retail CFD accounts lose money Trading Tips:

We continue to advise following a strategy of buying gold on dips, but without risk and with constant monitoring of factors influencing the gold market. Always observe market drivers and avoid risk, no matter how strong the trading opportunities seem gold prices rise in the coming days?

According to gold market analysts' forecasts, the overall trend for the gold price index remains bullish and may stay that way for some time. Remember, dear reader, that gold's trajectory has risen by more than 23% since the beginning of 2025, despite its ascent slowing as important US data pointed to a stronger-than-expected US economy.

EURUSD Chart by TradingView

According to trading experts' views and factors influencing gold bullion markets, Friday's US nonfarm payroll data showed a decrease in the long-term unemployment rate, which eased inflation concerns and reduced pressure on the Federal Reserve to loosen its monetary policy. They added that political pressures are increasing the volatility of interest rate expectations. Recently, US President Trump urged a 100-basis-point US interest rate cut and attacked Federal Reserve Chairman Jerome Powell, raising concerns about political interference in the US central bank.

Overall, perceived risks to the US central bank's independence have led to increased demand for gold trading as a geopolitical and monetary hedge. Furthermore, the gold market may receive support from Chinese investors, as the People's Bank of China continues to increase its holdings of the yellow metal. Despite the pause in spot gold price gains, the direction of technical indicators, led by the 14-day Relative Strength Index (RSI) and the MACD indicator lines, suggests opportunities for bulls to make further progress and achieve gains if the driving factors persist. Untimely, these factors include increasing global trade and geopolitical tensions, central bank gold purchases, and continued pressure on the US dollar.

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